News Releases

Bank of Montreal is pleased to announce the offering of Bank of Montreal Franklin Templeton Investments bestLINK Protected Deposit Notes™, Accelerated Growth Class, Series 1, which offer investors 100 per cent principal protection if held to maturity.

The Notes also offer the potential for up to 200 per cent exposure to the Templeton Global Smaller Companies Fund. "By linking the performance of the Notes to the Templeton Global Smaller Companies Fund, investors can enjoy the benefits offered by the potential for up to 200 per cent exposure to a global equity fund with full principal protection if held to maturity," said Luke Seabrook, Managing Director, BMO Nesbitt Burns.

In addition, the Notes' structure can reduce potential capital depreciation in a rising rate environment. "Generally, as rates rise, the investor may benefit from increased exposure to the underlying fund," said Seabrook.

Bank of Montreal Franklin Templeton Investments bestLINK Protected Deposit Notes™, Accelerated Growth Class, Series 1, are fully eligible for registered plans. The Notes are available through most financial advisors until March 18, 2005. The issue price is $100 per Note, with the minimum investment being $2,000.

Also available are Bank of Montreal Franklin Templeton Investments bestLINK Protected Deposit Notes™, Alternative Investments Class, Series 2. These Notes have an 8-year term to maturity and are principal protected if held to maturity with performance linked to the Franklin Templeton Strategic Growth Fund Ltd., a fund-of-hedge funds. These Notes are on sale until March 11, 2005.

The complete terms of each of these offerings, including details of the risks of an investment in the Notes along with disclosure of how the return on the Notes is calculated, are set out in the Information Statements, which can be obtained by investors from their advisors. With respect to each of these offerings, the fluctuation of the value of the Funds to which the Notes are linked will directly impact the interest payable on the Notes at maturity. As with any investment, investors should consult their advisor before making an investment decision to determine suitability of the investment in accordance with their objectives and risk level.

"bestLink" and "bestLink Protected Deposit Notes" are trademarks of BMO Nesbitt Burns Corporation Limited used under licence.

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